Jag Capital Management LLC Sells 4,563 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Jag Capital Management LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,838 shares of the network equipment provider's stock after selling 4,563 shares during the period. Jag Capital Management LLC's holdings in Cisco Systems were worth $4,371,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Gold Investment Management Ltd. lifted its holdings in shares of Cisco Systems by 2.6% in the 1st quarter. Gold Investment Management Ltd. now owns 42,909 shares of the network equipment provider's stock valued at $2,648,000 after acquiring an additional 1,098 shares during the last quarter. 3Chopt Investment Partners LLC lifted its holdings in shares of Cisco Systems by 9.7% in the 1st quarter. 3Chopt Investment Partners LLC now owns 56,589 shares of the network equipment provider's stock valued at $3,492,000 after acquiring an additional 5,012 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cisco Systems by 7.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,751,672 shares of the network equipment provider's stock valued at $166,753,000 after acquiring an additional 193,798 shares during the last quarter. Oakworth Capital Inc. lifted its holdings in shares of Cisco Systems by 1.7% in the 1st quarter. Oakworth Capital Inc. now owns 29,862 shares of the network equipment provider's stock valued at $1,843,000 after acquiring an additional 495 shares during the last quarter. Finally, Money Concepts Capital Corp lifted its holdings in shares of Cisco Systems by 7.7% in the 1st quarter. Money Concepts Capital Corp now owns 59,560 shares of the network equipment provider's stock valued at $3,675,000 after acquiring an additional 4,252 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

CSCO has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. New Street Research reissued a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last three months. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $68.65 on Friday. The firm has a market cap of $271.85 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 4.12 and a beta of 0.88. The company's 50 day moving average is $62.57 and its 200 day moving average is $61.08. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.22.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.39%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.